i3 Energy plc, an independent oil and gas company with assets and operations in the UK, announces the results for the period ended 30 June 2017. 
 
HIGHLIGHTS

• Awarded sole ownership of 30th Offshore Licensing Round Block 13/23c containing a material extension of the Liberator field referred to by i3 as Liberator West
• Block 13/23c added 22MMBO of 2C Contingent Resources and 47MMBO Mid-case Prospective Resources to i3's previously held 11MMBO of 2P Liberator Reserves, as independently verified by the Company's Competent Person, AGR TRACS International Limited ("AGR")
• Joint venture discussions with multiple industrial parties relating to Liberator and Liberator West, granting 90-day exclusivity to a potential farminee in June 2018. (See Post Period Events of 18 Sept 2018 for further information)
• Successfully completed placements raising £2.57m before expenses through the issue of new ordinary shares at a price of 30 pence per share to fund Field Development Plan ("FDP") engineering, trees and wellheads for the Liberator development, and general corporate purposes
• Converted US$2.5m of existing loan notes held by James Caird Asset Management ("JCAM") into 5,220,580 new ordinary shares at an average conversion price of US$0.48 per share
• Focused on defining an enlarged FDP following the award of Liberator West

POST PERIOD EVENTS:
On 27 July 2018, the Company announced that it had raised approximately £1.62 million through a placing of 1,542,336 new ordinary shares at 105 pence per share with existing institutional investors.

On 24 August 2018, the Company announced that holders of its Unsecured Convertible Loan Notes ("CLNs") of £521,456 (£517,452 as at 30 June 2018 prior to FX adjustment at 24 August 2018) had agreed to extend the term of the CLNs to 31 October 2018, thereby amending the maturity date of the CLNs from 25 August 2018 to 31 October 2018 (the "Extension") in order to allow the Company to deploy existing resources toward time-critical elements of its Liberator development. The Extension constituted a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies because Mr. Richard Ames and Mr. Neill Carson, who are directors of the Company, hold £155,032 and £112,782 in CLNs respectively.

On 30 August 2018, the Company announced that it had contracted Gardline Limited to conduct a site survey at its Liberator field. 
On 18 September 2018, the Company announced that under the exclusivity agreement announced on 27 June 2018, i3's potential joint venture partner was expected to deliver on key assurances within the 90-day period of exclusivity and that some of these conditions remained outstanding and were not expected to be addressed in advance of exclusivity ending on September 24th. i3 remains ready to enter a legally binding Farmout Agreement with the potential JV partner at such time as these key assurances have been provided.

Neill Carson, CEO of i3 Energy plc, commented,
"The pinnacle of H1 2018 was the OGA's award of Liberator West to i3. The addition of these high-quality resources to i3's Liberator reserves has seen our team expanding the scope of our development and appraisal plans for the region, and we're excited about progressing towards planned field development sanctioning in early 2019. The low risk nature of our 100% owned and operated Liberator oil discovery and meaningful upside potential of Liberator West continues to attract investment interest and we're confident that our funding requirements will be met in advance of FDP approval. We're looking forward to the remainder of 2018 and towards what we expect will be an eventful 2019."

i3's Board, Executive, and Management Team would like to thank our valued shareholders for their ongoing support as we continue to strengthen our company and its future."